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Alibaba’s Daniel Zhang to Succeed Jack Ma as Chairman Next Year

CEO is credited for establishing Singles’ Day shopping extravaganza

“I don’t want to die in the office,” Jack Ma, one of China’s richest men, said about his retirement plans. Here's how the founder of e-commerce giant Alibaba has described his future in education and philanthropy. Photo: Qilai Shen/Bloomberg

Chinese e-commerce tycoon Jack Ma said he would step down as executive chairman of Alibaba Group Holding Ltd. in a year, handing over the reins to CEO Daniel Zhang.

Mr. Ma made the announcement on his 54th birthday, saying he has “lots of dreams to pursue” including working in education again. Before founding Alibaba in 1999, Mr. Ma was a teacher—he is known at the company as “Teacher Ma.”